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New penalties for late submission of HE32

As we reported earlier, the Cyprus Registrar of Companies has introduced new penalties for the late submission of the Company Annual Return (HE32), effective from the 18th of December 2019.

Please note that the deadline for submission of Company Annual Return (HE32) was extended until April 18, 2020.

We remind you that penalties for late submissions are as follows:

  • A €50 one-off penalty;
  • In addition, €1 will be charged for each day of delay during the first six months and then €2 for each day of delay after the first six months, up to a maximum total of €500.

Since Annual Returns can only be submitted to the Registrar of Companies if they are accompanied by the audited financial statements of the previous year, it is recommended that you liaise with your auditors to ensure that audited financial statements are prepared on time.